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REGISTERED NUMBER: 02271232 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SEWERS AND KNITTERS LIMITED

SEWERS AND KNITTERS LIMITED (REGISTERED NUMBER: 02271232)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SEWERS AND KNITTERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: L King
S B King
J L Groves





REGISTERED OFFICE: 5 - 7 Jury Street
Warwick
Warwickshire
CV34 4EH





REGISTERED NUMBER: 02271232 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

SEWERS AND KNITTERS LIMITED (REGISTERED NUMBER: 02271232)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 292,000 301,000

CURRENT ASSETS
Debtors 5 400 762
Cash at bank 1,339 2,919
1,739 3,681
CREDITORS
Amounts falling due within one year 6 50,939 51,158
NET CURRENT LIABILITIES (49,200 ) (47,477 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,800

253,523

CAPITAL AND RESERVES
Called up and paid share capital 40,000 40,000
Revaluation reserve 248,995 256,257
Retained earnings (46,195 ) (42,734 )
SHAREHOLDERS' FUNDS 242,800 253,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:




L King - Director


SEWERS AND KNITTERS LIMITED (REGISTERED NUMBER: 02271232)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Sewers and Knitters Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 20% on cost

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The financial statements have been prepared on the going concern basis, on the understanding that the company will receive continued support from the director for a period of at least 12 months from the date of these financial statements.

SEWERS AND KNITTERS LIMITED (REGISTERED NUMBER: 02271232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2022
and 31 August 2023 450,000 10,021 460,021
DEPRECIATION
At 1 September 2022 149,000 10,021 159,021
Charge for year 9,000 - 9,000
At 31 August 2023 158,000 10,021 168,021
NET BOOK VALUE
At 31 August 2023 292,000 - 292,000
At 31 August 2022 301,000 - 301,000

Cost or valuation at 31 August 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2014 363,085 - 363,085
Cost 86,915 10,021 96,936
450,000 10,021 460,021

If long leasehold had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 86,915 86,915
Aggregate depreciation 40,848 40,848

Long leasehold were valued on an open market value basis on 31 August 2014 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 400 762

SEWERS AND KNITTERS LIMITED (REGISTERED NUMBER: 02271232)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,634 1,303
Other creditors 49,305 49,855
50,939 51,158